Forum Energy Technologies (NYSE:FET) SVP Michael Dewayne Danford Sells 3,000 Shares of Stock

Forum Energy Technologies, Inc. (NYSE:FET) SVP Michael Dewayne Danford sold 3,000 shares of Forum Energy Technologies stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $55.49, for a total transaction of $166,470.00. Following the sale, the senior vice president owned 54,139 shares of the company’s stock, valued at approximately $3,004,173.11. The trade was a 5.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Forum Energy Technologies Stock Performance

Shares of NYSE FET opened at $55.98 on Friday. The company has a current ratio of 2.23, a quick ratio of 1.09 and a debt-to-equity ratio of 0.54. Forum Energy Technologies, Inc. has a 12 month low of $14.17 and a 12 month high of $65.43. The company has a 50 day simple moving average of $58.51 and a two-hundred day simple moving average of $46.14. The stock has a market cap of $632.62 million, a price-to-earnings ratio of -94.89, a PEG ratio of 3.38 and a beta of 0.60.

Forum Energy Technologies (NYSE:FET) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.44 by $0.03. Forum Energy Technologies had a negative net margin of 0.78% and a positive return on equity of 4.15%. The business had revenue of $208.70 million during the quarter, compared to analysts’ expectations of $201.30 million. As a group, analysts predict that Forum Energy Technologies, Inc. will post 2.07 earnings per share for the current year.

Institutional Investors Weigh In On Forum Energy Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JB Capital Partners LP increased its holdings in Forum Energy Technologies by 68.2% in the 3rd quarter. JB Capital Partners LP now owns 120,800 shares of the oil and gas company’s stock worth $3,227,000 after acquiring an additional 49,000 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Forum Energy Technologies by 62.3% during the third quarter. JPMorgan Chase & Co. now owns 262,316 shares of the oil and gas company’s stock worth $7,006,000 after buying an additional 100,720 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in shares of Forum Energy Technologies during the fourth quarter worth $1,196,000. Strs Ohio grew its holdings in shares of Forum Energy Technologies by 468.4% during the third quarter. Strs Ohio now owns 21,600 shares of the oil and gas company’s stock worth $577,000 after buying an additional 17,800 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of Forum Energy Technologies by 20.9% during the first quarter. Public Employees Retirement System of Ohio now owns 19,840 shares of the oil and gas company’s stock worth $1,164,000 after buying an additional 3,428 shares in the last quarter. Hedge funds and other institutional investors own 65.60% of the company’s stock.

Analyst Ratings Changes

FET has been the subject of several analyst reports. Wall Street Zen upgraded shares of Forum Energy Technologies from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Forum Energy Technologies in a research note on Tuesday, April 21st. Finally, Zacks Research upgraded shares of Forum Energy Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Forum Energy Technologies presently has an average rating of “Moderate Buy”.

About Forum Energy Technologies

Forum Energy Technologies Inc is a global provider of advanced products and services to the oil and gas industry. The company’s offerings span the full lifecycle of exploration and production, including drilling, well construction, completion and production, and subsea operations. Key product lines include premium drill bits, downhole drilling motors, directional drilling tools, subsea umbilicals, and pressure control equipment, complemented by field service support and engineered solutions for complex projects.

Established through the merger of Forum Oilfield Technologies, Triton Group, Global Energy Group, and Allen International in 2010, Forum Energy Technologies has built a diversified technology portfolio designed to meet evolving industry requirements.